Ballard Power Systems’ (BLDP) Buy Rating Reaffirmed at Roth Capital
Ballard Power Systems Inc. (NASDAQ:BLDP)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Capital in a note issued to investors on Wednesday. They currently have a $2.50 target price on the stock. Roth Capital’s target price would suggest a potential upside of 14.68% from the stock’s current price.
Other analysts also recently issued research reports about the company. FBR & Co reissued an “outperform” rating and issued a $3.00 price target on shares of Ballard Power Systems in a research note on Tuesday. Zacks Investment Research raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research note on Tuesday. Finally, TheStreet raised Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 26th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ballard Power Systems has a consensus rating of “Buy” and an average target price of $2.21.
Shares of Ballard Power Systems (NASDAQ:BLDP) opened at 2.18 on Wednesday. The company’s market capitalization is $342.14 million. The stock has a 50 day moving average price of $2.02 and a 200-day moving average price of $1.60. Ballard Power Systems has a one year low of $1.11 and a one year high of $2.38.
Ballard Power Systems (NASDAQ:BLDP) last posted its earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $17.60 million for the quarter, compared to analyst estimates of $18.32 million. Ballard Power Systems had a negative return on equity of 19.49% and a negative net margin of 30.51%. Equities research analysts predict that Ballard Power Systems will post ($0.15) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Ballard Power Systems stock. Royal Bank of Canada increased its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) by 139.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,923 shares of the company’s stock after buying an additional 57,634 shares during the period. Royal Bank of Canada owned about 0.06% of Ballard Power Systems worth $124,000 at the end of the most recent reporting period. Institutional investors own 4.01% of the company’s stock.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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